Abu Dhabi Economic Development and Investment Office Organize 4th Al Multaqa Quarterly Meeting

Photo : Abu Dhabi Media Office

The Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Investment Office (ADIO) have successfully organized the fourth edition of the Al Multaqa quarterly meetings, aiming to provide valuable insights to the business community about the emirate’s economy. This meeting focused on potential investment opportunities and the acceleration of economic growth in Abu Dhabi.

During the meeting, the importance of family offices emerged as a significant theme. These entities are evolving beyond traditional wealth management roles, now actively investing in infrastructure projects and innovative technologies. By collaborating with the public sector, family offices are playing a vital role in fostering economic growth and sustainability. Their approach balances global partnerships with local investments, significantly impacting both the emirate’s economy and the future of its key industries.

His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, highlighted the emirate’s positive economic trajectory, noting a remarkable 196 percent increase in the issuance of economic licenses over the past decade. He emphasized Abu Dhabi's ongoing commitment to becoming a premier hub for talent, investment, and business. “Guided by our wise leadership's vision and powered by Falcon Economy initiatives, we are accelerating our transition to an innovative, diversified, and sustainable economy,” he stated. He further remarked that the robust growth of the economy demonstrates the emirate's dedication to becoming a global economic powerhouse by fostering innovation, attracting quality investments, and supporting local manufacturing.

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The meeting also provided an update on the Abu Dhabi Industrial Strategy (ADIS), which has had a significant impact since its launch on June 30, 2022. The industrial GDP has increased from AED 83 billion in 2022 to AED 101 billion by the end of 2023. The number of new industrial Rowad licenses issued under the strategy surged by over 40 percent from July 2023 to June 2024, and the total investments associated with these licenses nearly tripled to AED 10.8 billion in the same timeframe. Additionally, government tenders worth AED 21 billion have been awarded to companies holding local content certificates, marking a 33 percent increase compared to the previous year.

His Excellency Al Zaabi noted, “The achievements of ADIS over the past two years underscore our commitment to establishing Abu Dhabi as the region's most competitive industrial hub, playing a crucial role in shaping the future of manufacturing.”

A key aspect of the meeting included a presentation by His Excellency Brigadier Salem Abdullah bin Barrak Al Dhaheri, Acting Director General of Abu Dhabi Civil Defence. He stressed the importance of fire prevention and safety compliance in protecting lives and assets, particularly for family offices that invest heavily in high-value sectors such as real estate and construction. Compliance with fire safety regulations is crucial for safeguarding investments and ensuring business continuity.

The ADIO team showcased a variety of investment and partnership opportunities available to the local business community. As of 2024, ADIO has successfully attracted over 165 investors across diverse sectors, including financial services, energy, and technology. The office has also signed 27 deals focused on clean energy, advanced technology, and the Smart and Autonomous Vehicles Industry (SAVI) cluster, reflecting the vibrant investment landscape in the emirate.

Attendees gained insights into the Musataha Programme, which offers investment opportunities for private sector developers on government-owned land. This initiative effectively leverages the emirate’s public land assets for projects that yield socioeconomic benefits. Leading investors signed multiple Musataha agreements during the event, leading to the development of new commercial and industrial facilities.

Among the agreements is a notable project for a Community Market in Al Nahdah Al Askariah, valued at approximately AED 26.6 million. This facility aims to provide quality retail options to local residents, including supermarkets, pharmacies, and restaurants, catering to community needs. Additionally, another commercial facility will be established in the Al Khatim region of Al Ain, covering a total plot area of 20,461 square meters, including roadways, parking areas, landscaping, and a food truck park.

ADIO also signed a Musataha agreement for a new concrete manufacturing facility by Readymix Abu Dhabi Ltd L.L.C. This facility, valued at AED 12 million, will span 15,000 square meters of land in Madinat Zayed.

These initiatives represent a collaborative effort to enhance economic growth and improve the quality of life for communities in Abu Dhabi. By creating the right opportunities for local investors, ADIO is optimizing the potential of Abu Dhabi’s public land bank, channeling investments into sustainable projects that benefit the local economy.

The Al Multaqa meetings, organized quarterly by ADDED and ADIO, serve as a vital platform for updating the business community on the economic landscape and highlighting investment opportunities in Abu Dhabi. They facilitate constructive dialogue between businesses and government, helping shape policies that unlock further investment in the emirate.